(i) Rights, preferences and restrictions attached to equity shares

The Company has one class of equity share having a par value of Rs. 10/- per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing annual general meeting, except in case of interim dividend.

In the event of liquidation, the equity shareholders are eligible to receive the remaining asset of the Company after distribution of all preferential amounts, in proportion to their shareholding.

(ii) Nature and purpose of each reserve within Other equity Capital Reserve

Represented forfeited warrant application money being non subscribing/ conversion of warrant in to equity share with in terms of allotment.

Securities premium account

Where company issued shares at a premium, a sum equal to the aggregate amount of the premium received on those shares shall be transferred to a "securities premium account" as per the provisions of applicable Companies Act.

Retained earning and dividend on equity shares:

This represent the surplus/ (deficit) of the profit or loss. The amount that can be distributed by the Company to its equity shareholders is determined considering the requirements of the Companies Act, 2013. Thus, the amount reported above are not distributable in entirety.

(i) The provision for employee benefits includes annual leave and vested long service leave entitlements accrued, gratuity and ex-gratia/Bonus. The decrease in the carrying amount of the provision for the current year results from benefits being paid/ adjusted in the current year.

29.2 Financial risk management

The company's principal financial liablities comprrises borrowings, trade and other payable. The main purpouse of these financial liabilities is to financce the company'soperation. The company's principal assets include loan, trade and other receivable and cash and cash equivalents that are derived directky from its opetation The company is exposed to credit risk and liquidity risk. The company's senior mamngment oversees the management of these riks:

A.Credit risk management

The company is exposed to credit risk from its operating activities (Primariliy for trade receivable). To manage credit risk the company follow a policy of providing 0-90 days credit on the basis of natuer of customers. The credit limit policy is established considering the current economic trends of the industry and geographies in which company is operating

However, the trade receivable are monitired on periodic basis for assessing any significant risk of non-recoverebility of dues and provision is created accordingly.

30 Liquidity risk management

Liquidity riks isthe riskthatthe companywill not be able to settle or meet the obligation ontimeor ata reasonable price. This risk arisesfrom obligation on account ofthe company's financial liabilities such as borrowings , trade payable etc.

The company's corporate finance department is responsible for liquidity and funding management and settlemt. In addition processs and policies related to such riskare overssen by senior management. Management monitor the company's net liquuidity posstion throgh rolling forecast on the basis of expected cashflows.

The tabale below summarise the maturity profile of the company's financial liabilties based on contractulal undicounted payment at each reporting date: ii)

All dues of Assets Reconstruction Company, Recalled/ Current maturities of long-term debt and Recalled Short Term borrowing from bank are

Secured against mortgage of entire Land & Building and Hypothecation of entire Plant & Machinery and other Fixed assets of the company and also Secured by Hypothecation of entire Inventories and Book Debts and other current assets of the company This loan is also secured by personal guarantee of promoter directors (Repayable with Interest: 16.50 % & 15.60 % )

The Company is undergoing substantial financial stress since 2nd half of the immediately preceding Financial Year. The Company had entered into a financial arrangement with ARC. Because of lack of funds and sale of Uttaranchal Plant not materialized, the conditions of repayment could not be fulfilled and the amounts could not be repaid in time. The ARC has issued a legal notice to the Company which is being under negotiation and the management is hopeful of working out an amicable solution. In view of this, no provision of any penal interest and other charges have been made in the accounts.

31. Capital Managment A. Risk Management

The company's objectives when managing capital are to

'-Safeguard it's ability to continue as going concern, so that it can countinue to provide return for shareholder and benefits for other shareholder and '-maintain an optimal capital structuer to reduce the cost of capital.

The company monitors its capital by using gearing ratio, which is net debt dividend by total equity. Net debt include non-current and current borrowings net of cash and cash equivelants and total equity comprises of equity share capital, security premium, general reserv, other comprehansive income and retained earnings

Note: 40

a. The company is in the process of obtaining confirmation from parties, and reconciliation differences, if any, in payable and receivables will be adjusted in the books. On ramping up of packaging business, company is hopeful of recovering the book debts.

b. Previous year figures have been regrouped & rearranged wherever necessary.

Note: 41

The Company is undergoing substantial financial stress since 2nd half of the immediately preceding Financial Year. The Company is taking active steps to monetize it’s assets and is in discussions with many parties to sell off it’s marketing business. The management of the Company is evaluating various options, including starting a new line of business, restructuring it’s liabilities and recommencement of it’s operations, reducing the promoters stake by way of selling of their stake to a strategic partner or with further equity infusion which are not wholly within the control of the Company. In view of all the actions that are currently under way, these financial statements have been prepared on the basis that the Company is a going concern.

Note: 42 CSR Expenditure

(a) Gross amount required to be spent by the company during the year as per Section 135 of the Companies Act, 2013 read with schedule VII: INR 1.99 millions (Previous Year 1.34)

(b) Amount spent during the year on

(i) Construction/acquisition of any asset : Nil

(ii) On purposes other than (i) above : INR 3.90 millions -2019

43. Approval of financial statements

The financial statements were approved for issue by the board of directors on 08.12.2023